Truist Financial Lowers SiteOne Landscape Supply (NYSE:SITE) Price Target to $175.00

SiteOne Landscape Supply (NYSE:SITE) had its price objective lowered by Truist Financial from $204.00 to $175.00 in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada upped their price target on shares of SiteOne Landscape Supply from $150.00 to $157.00 and gave the stock a sector perform rating in a research note on Thursday, February 15th. Barclays increased their price target on SiteOne Landscape Supply from $121.00 to $145.00 and gave the company an underweight rating in a research note on Thursday, February 15th. Stifel Nicolaus raised SiteOne Landscape Supply from a hold rating to a buy rating and dropped their price objective for the stock from $167.00 to $165.00 in a research note on Thursday. Robert W. Baird raised their target price on SiteOne Landscape Supply from $175.00 to $190.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Finally, Loop Capital cut shares of SiteOne Landscape Supply from a buy rating to a hold rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SiteOne Landscape Supply has a consensus rating of Hold and a consensus target price of $167.50.

SiteOne Landscape Supply Stock Performance

Shares of NYSE:SITE traded up $2.06 during trading hours on Thursday, hitting $152.42. The stock had a trading volume of 481,180 shares, compared to its average volume of 350,666. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 2.36. The stock’s fifty day simple moving average is $169.37 and its 200 day simple moving average is $156.71. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 44.18 and a beta of 1.53. SiteOne Landscape Supply has a 1-year low of $116.81 and a 1-year high of $188.01.

SiteOne Landscape Supply (NYSE:SITE) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.22). SiteOne Landscape Supply had a return on equity of 10.77% and a net margin of 3.63%. The business had revenue of $904.80 million for the quarter, compared to analyst estimates of $864.01 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that SiteOne Landscape Supply will post 3.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,467 shares of the company’s stock, valued at $2,784,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SiteOne Landscape Supply news, CFO John T. Guthrie sold 3,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $180.00, for a total transaction of $540,000.00. Following the sale, the chief financial officer now directly owns 15,467 shares of the company’s stock, valued at approximately $2,784,060. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Doug Black sold 10,000 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $162.10, for a total value of $1,621,000.00. Following the completion of the sale, the chief executive officer now owns 574,657 shares of the company’s stock, valued at approximately $93,151,899.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,000 shares of company stock valued at $3,924,500. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SiteOne Landscape Supply

A number of large investors have recently made changes to their positions in the business. Jennison Associates LLC increased its stake in shares of SiteOne Landscape Supply by 46.3% in the first quarter. Jennison Associates LLC now owns 177,793 shares of the industrial products company’s stock worth $31,034,000 after acquiring an additional 56,234 shares during the last quarter. FORA Capital LLC acquired a new position in SiteOne Landscape Supply in the 1st quarter worth about $209,000. Fidelis Capital Partners LLC purchased a new stake in shares of SiteOne Landscape Supply during the 1st quarter worth about $133,000. Janney Montgomery Scott LLC lifted its holdings in shares of SiteOne Landscape Supply by 3.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,785 shares of the industrial products company’s stock valued at $6,246,000 after buying an additional 1,084 shares during the last quarter. Finally, Norden Group LLC bought a new stake in shares of SiteOne Landscape Supply in the 1st quarter valued at approximately $283,000.

SiteOne Landscape Supply Company Profile

SiteOne Landscape Supply, Inc, together with its subsidiaries, engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides irrigation products, including controllers, valves, sprinkler heads, irrigation pipes, micro irrigation, and drip products; fertilizer, grass seed, and ice melt products; control products, such as herbicides, fungicides, rodenticides, and other pesticides; landscape accessories that include mulches, soil amendments, drainage pipes, tools, and sods; nursery goods, which consist of deciduous and evergreen shrubs, ornamental, shade, evergreen trees, field grown and container-grown nursery stock, roses, perennials, annuals, bulbs, and plant species and cultivars; hardscapes, such as pavers, natural stones, blocks, and other durable materials; and outdoor lighting products that include lighting fixtures, LED lamps, wires, transformers, and accessories.